There's a few things to say about The Docklands other than that it is a giant wind tunnel.  Nothing quite like stepping outside on what was supposed to be a nice day only to find yourself cowering against the cold of the wind.

The first is that there are a loooooot of apartments there.  What this means is that at any given time, if you want to…[Read more]

Hi Joey

You'll be in good hands with Jamie

Just be sure to set the structures and finances up correct from the start or your aspirations to grow your portfolio can come to a grinding halt. 

Contact one of the gun mortgage brokers on these forums such as Terryw (who already replied in this thread), Qlds007 or Jamie M

FredG wrote:
If you currently have a high income and are paying a lot of tax then you should buy a property with capital growth (which most likely will be negatively geared).

What this means is that you will pay more interest on your loan than the rental income you will get from your property. The shortfall you will be able to claim back from…[Read more]

Hi there

You mentioned "I eventually want to build a duplex and move into one side which is why I wanted to keep my new PPOR as an I/O loan."

Just wondering why you want to do this?  Is it because you want a relative to live next door to you or something like that?  If not, the goal shouldn't be "to live in one half of a duplex" it should be "to…[Read more]

GIO would probably do it.  I've got a block of units all on the one title where one of the units has its own independent roof, and they are the insurers. Just the one policy.  They call it "Investor Home and Contents Insurance". 

The one thing you cannot repair is location. 

What are all these other boxes that it ticks?

Hi EJay

A similar topic was discussed in the following thread recently which is therefore well worth a read:
https://www.propertyinvesting.com/forums/help-needed/4347813

Coming back to step 1:  defining who you are, where you are at in life, and where you are trying to get to.  Then determining the property types that will get you there.

So….…[Read more]

There will always be peaks and troughs over the years.  Ask yourself : if my tenants were unemployed, would they still be able to afford the rent on my property?  If not, then I guess your property would be exposed to risk during the troughs. 

Also remember, capital growth cannot provide serviceability on additional loans – but suitable rental yield can

You can go to the bank and say hey, i have a trillion dollars of equity because this cracker property I have went up in value.  Trouble is it has rubbish rental yield because sadly people don't feel like paying 4 million dollars a week…[Read more]

Hi Cal

I saw your post the other day and was scratching my head a bit trying to understand why your strategy wasn't as follows:  "Make money". 

Deciding on the property type and then praying it fits with your goals is a bit like saying right-oh, I'm going to eat some Coco-Pops, and pray to the heavens they contains vitamin C because that's the…[Read more]

I don't see how asking for access to clean up and show prospective tenants through would be rude.  It doesn't cost the vendor anything…

Jamie!!! Awesome news! So pleased for you Congratulations

Hi Andrew

No unfortunately rent of $500 per week won't cover the expenses and mortgage repayments on a $620k property.  You'd be putting your hand in your pocket to prop it up for a few years.  This is known as negative gearing which is also known as making a loss.  You can get tax refunds on a portion of your loss (but not all) presuming you…[Read more]

Oh my this is the cutest thread ever!  I love it that there is absolutely no text i the body of your post.

What's wrong??  How can we help?  Shall we assume the smart part of your brain has realised you ought to invest in property but the emotional part of you that listens to uneducated folks in the community panics sometimes?

I have deliberately bought property smack across the road from the shops and a few doors down from the police station.  The tenants love the convenience of the shops and also the security of the proximity of the police station.  Not because they expect to require being rescued from a situation, but the presence of the police station itself tends…[Read more]

Agreed.

Positive = The property will pull its weight and allow you to build your portfolio further.

Negative = If there is capital growth good, though remember it is not guaranteed.  Either way, capital growth does not get the mortgage repayments made.  Rental yield does.

When agents try to hype up a property to me because it has "better…[Read more]

JoeyJ wrote:
I will look into it with the bank. Unfortunately the manager I have been dealing with is not back for two weeks. 

Why do you need to deal with the bank directly?  Far easy to use a broker.  They process many deals each day and as such come to learn which lenders and loan types are appropriate for which applicants.

Hi kjmh

It's a common thing we see – the selection of the suburb followed by the frustration in trying to make it fit the end goal (and it often doesn't).  Best to do things the other way around – define the end goal and then determine which suburbs can help you get there.  If you cannot do this yourself for whatever reason (lack of time, lack of…[Read more]

I know someone will ask because it has relevance, so I'll post the answer.  Moorooka is in QLD.